How to manage Consignment InventoryFollow
How do I handle consignment stock in Unleashed?
Consignment stock is stock that has a business or person that does not own the specified stock. In an accounting perspective, such stock has neither been sold or part of the owner's inventory.
There are two types of consignment stock;
- Consignee - is the business or person that holds the consigned stock for sale and acts as the consignor’s agent in selling that stock.
- Consignor - is the business or person that makes a consignment to the consignee.
Unleashed can support Consignor and not Consignee.
How to handle consignment stock in Unleashed as a Consignor
- Setup a warehouse for your consignee that is holding your stock
For example, when you send stock to your consignee (transferring inventory to their warehouse) you can use both the Warehouse Transfers page and Stock On Hand Enquiry page, ordered by warehouse to do this. This will enable you to track your stock as it is being transferred to the warehouse to it being stored and then sold to customers.
- As the consignee sells those goods, you can invoice them out of that specified warehouse.
For example, they might report sales for each day, week, month etc; you can then create an invoice for it. The consignee can use any of the Unleashed sales reports to report on this, i.e. Margin Report by warehouse for instance.